Autumn Statement 2014

Introduction The Chancellor George Osborne delivered his final Autumn Statement of this Parliament amid ongoing economic uncertainty. The key indicators paint an unclear picture. The UK economy is now expected to grow faster in 2014 than any other developed economy including the Eurozone. But the pace of GDP growth slowed between the second and the[…]

Holiday pay should include overtime, tribunal rules

Thousands of businesses are facing additional costs after a tribunal ruled that overtime should be included in holiday pay calculations. The Employment Appeal Tribunal (EAT) ruled that employers must factor in overtime when calculating holiday pay, instead of only taking basic pay into account. The tribunal also said that employees could make backdated claims if[…]

Employment Allowance benefits businesses

More than 850,000 businesses have benefited from the Employment Allowance in the scheme’s first 6 months, official figures have revealed. The Employment Allowance reduces the national insurance contributions (NICs) bill for eligible employers, who can claim a class 1 secondary NICs reduction of up to £2,000 through their payroll software. The figures reveal: 856,000 businesses[…]

Tax and your business

This guide is intended to help unincorporated business owners with their tax planning Individuals pay tax on the profits of their unincorporated business at income tax rates ranging from 20% to 45%. In addition, there is a liability to class 4 national insurance contributions (NICs), which is taxed at a rate of 9% on taxable[…]

Retirement planning

Have you considered what your retirement might look like financially? It’s important to think about what you want to do and achieve in your retired years. We can then help you understand how much you need to save to secure the income you’ll need and how your saving can be optimised for tax purposes. Retirement[…]

Small firms fuel economic growth

More than a third of economic growth in 2013 was created by high growth small businesses (HGSBs), a report by Octopus Investments and the Centre for Economics and Business Research (Cebr) has found. HGSBs are firms that have recorded annual turnover of £1-20 million and an average annual growth of more than 20% over 3[…]